Full text
RLF1 28770021v.1
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
------------------------------------------------------------ x
:
Chapter 11
In re
:
:
Case No. 22-10951 (CTG)
KABBAGE, INC. d/b/a KSERVICING, et al., :
:
(Jointly Administered)
Debtors.1
:
:
Re: Docket No. 340 & 356
------------------------------------------------------------ x
CERTIFICATION OF COUNSEL REGARDING ORDER
ENFORCING THE SETTLEMENT ORDER AND THE SETTLEMENT
AGREEMENT BETWEEN KSERVICING AND CUSTOMERS BANK
PLEASE TAKE NOTICE THAT on December 7, 2022, Kabbage, Inc. d/b/a
KServicing and its debtor affiliates, as debtors and debtors in possession in the above-captioned
chapter 11 cases (collectively, the “Debtors”), filed the Motion of Debtors for Entry of an Order
Enforcing the Settlement Order and the Settlement Agreement Between KServicing and Customers
Bank [Docket No. 340] (the “Motion”) with the United States Bankruptcy Court for the District
of Delaware (the “Court”). A proposed form of order granting the relief requested in the Motion
was attached to the Motion as Exhibit A (the “Proposed Order”).
PLEASE TAKE FURTHER NOTICE THAT on December 21, 2022, Customers
Bank (“CB”) filed the Opposition of Customers Bank to Debtors’ Motion for an Entry of an Order
Enforcing the Settlement Order and the Settlement Agreement Between KServicing and Customers
Bank [Docket No. 356].
1 The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification
number, as applicable are: Kabbage, Inc. d/b/a KServicing (3937); Kabbage Canada Holdings, LLC (N/A); Kabbage
Asset Securitization LLC (N/A); Kabbage Asset Funding 2017-A LLC (4803); Kabbage Asset Funding 2019-A
LLC (8973); and Kabbage Diameter, LLC (N/A). Kabbage is a trademark of American Express used under license;
Kabbage, Inc. d/b/a KServicing is not affiliated with American Express. The Debtors’ mailing and service address
is 925B Peachtree Street NE, Suite 383, Atlanta, GA 30309.
Case 22-10951-CTG Doc 730 Filed 03/27/23 Page 1 of 3
2
RLF1 28770021v.1
PLEASE TAKE FURTHER NOTICE THAT on March 20, 2023, the Court held
an evidentiary hearing with respect to the relief requested in the Motion. On March 22, 2023, the
Court issued its bench ruling granting the relief requested in the Motion (the “Bench Ruling”) and
instructed the parties to agree on a proposed form of order. The Debtors have prepared a revised
form of Proposed Order (the “Revised Order”), attached hereto as Exhibit 1, consistent with the
Bench Ruling. The Revised Order has been circulated to CB, and CB does not object to the entry
of the Revised Order. For the convenience of the Court and all parties in interest, a redline
comparison of the Revised Order marked against the Proposed Order is attached hereto as
Exhibit 2.
[Remainder of page intentionally left blank]
Case 22-10951-CTG Doc 730 Filed 03/27/23 Page 2 of 3
3
RLF1 28770021v.1
WHEREFORE the Debtors respectfully request that the Revised Order be entered
at the earliest convenience of the Court.
Dated: March 27, 2023
Wilmington, Delaware
/s/ Matthew P. Milana
RICHARDS, LAYTON & FINGER, P.A.
Daniel J. DeFranceschi, Esq. (No. 2732)
Amanda R. Steele, Esq. (No. 5530)
Zachary I. Shapiro, Esq. (No. 5103)
Matthew P. Milana, Esq. (No. 6681)
One Rodney Square
920 North King Street
Wilmington, Delaware 19801
Telephone: (302) 651-7700
E-mail: defranceschi@rlf.com
steele@rlf.com
shapiro@rlf.com
milana@rlf.com
-and-
WEIL, GOTSHAL & MANGES LLP
Ray C. Schrock, Esq. (admitted pro hac vice)
Candace M. Arthur, Esq. (admitted pro hac vice)
Natasha S. Hwangpo, Esq. (admitted pro hac vice)
Chase A. Bentley, Esq. (admitted pro hac vice)
767 Fifth Avenue
New York, New York 10153
Telephone:
(212) 310-8000
E-mail:
ray.schrock@weil.com
candace.arthur@weil.com
natasha.hwangpo@weil.com
chase.bentley@weil.com
Attorneys for Debtors and Debtors in Possession
Case 22-10951-CTG Doc 730 Filed 03/27/23 Page 3 of 3